Jun 30, 2021
Dixons Carphone online sales surge
Dixons Carphone has reinstated its dividend after posting a 34 per cent rise in annual profit, with the electronics retailer helped by a boom in online demand. For the year to May 1 Dixons reported an adjusted pre-tax profit of £156m on revenue of £10.3bn. Online sales more than doubled year on year to £4.7bn. Management proposed a full-year dividend of 3p. For the current year Dixons said trading had remained strong in all markets and international sales are trending positively. Full-year results from Stagecoach beat expectations, with the bus operator posting an underlying operating profit down 56.6 per cent year on year to £44.3m versus consensus forecasts of about £30m. One-offs including the unwind of its rail franchises and fuel hedge accounting meant headline pre-tax profit was £24.7m rather than the narrow loss expected by analysts. On a two-year basis, retail like-for-like sales grew by 12.9 per cent over the quarter as a whole and were up 18.5 per cent in the eleven weeks since stores fully reopened in April, it said. M&C Saatchi said trading has been ahead of expectations for first five months of 2021, with half year headline pre-tax profit expected to be in excess of £10m. For 2020 the advertising agency reported an £8.3m pre-tax profit, down 51.5 per cent year on year.
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